This Question: 1 pt This Quiz: 2 pts possible 2 of 2 (1 complete) On January 3, 2018, Nimble Delivery Service purchased a truck at a cost of $90,000. Before placing the truck in service, Nimble spent $3,000 painting it, $1,200 replacing tires, and $4,800 overhauling the engine. The truck should remain in service for five years and have a residual value of $9,000. The truck's annual milenge is expecteed to be 21,000 miles in each of the first four years and 16,000 miles in the fith year-100,000 miles in total. In deciding which depreciation method to use, Mikail Johnson, the general mansger, requests a depreciation schedule for each of the deprecistion methods (straight-line, units-of-production, and double-declining-balance) Read the requirements. Requilrement 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciasion expense, acoumulated depreciation, and asset book value. Begin by preparing a depreciation schedule using the straight-ine method Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book Date Cost Cost Life Expense Depreciation Value 1-3-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 12-31-2022 Choose from any list or enter any number iIn the input flelds and then continue to the next question On January 3, 2018, Nimble Dellvery Service purchased a truck at a cost of $00,000. Belore placing the truck in service, Nimble spent $3,000 psinting it, $1,200 replacing tires, and $4,800 overhauling the engine. The truck should remain in service for flive years and have a residusl value of $9,000. The truck's annusl meage is expected to be 21,000 miles in each of the first four years and 16,000 mles in the fith yea-100,000 miles in total. In deciding which depreciation method to use, Mikail Johnson, the general maniger, requests a depreciation schedule for each of the depreaiation methods (straight-line, units-of-production, and double-decining-balance) Read the reauirements Before completing the units-of-production depreciation schedude, caloulate the depreciation expese per unit, Select the formula, then enter Phe amounts and calculate the depreciation expense per unit. (Round depreciation expense per unit to two decimal places) Depreciation per unit Prepare a depreciation schedule using the units-of-production method. (Enter the depreciation per unit to two decimal places, $XXX) Units-of-Production Depreciation Schedule Depreciation for the Year Depreciation Accumulated Number of Mook Depreciation Asset Expense Depreciation Cost Per Unit Units Value Date 1-3-2018 12-31-2018 12-31-2019 12-31-2020 Choose from any Ist or enter any number in the input fields and then continue to the next question On January 3, 2018, Nimble Delivery Service purchased a truck at a cost of $90,000. Before placing the truck in service, Nimble spent $3,000 painbng, $1,200 truck should remain in service for five years and have a residual value of $9,000, The truck's aarnual milesge is expecied to be 21.000 miles in each of the first four years and 16,000 miles in the fith year-100,000 miles in total. In deciding which depreciation method to use, Mkal Johnson, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units-of-production, and double-declining-balance) Read the requirements Double-Declining-8alance Depreciation Schedule Depreciation for the Year Depreciation Accumulated ook Book DDB Asset Value Expense Depreciation Date Cost Value Rate 1-3-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 12-31-2022 Requirement 2. Nimble prepares financial statements using the depreciation method that reports the highest net income in the early years of asset use. Consider the frst year that Nimble uses the truck. Identify the depreciation method that meets the company's objectives method. It produces the depreciation expense and therefore the highest net income. The depreciaion method that reports the highest net income in the first year is the Choose from any list or enter any number in the input fields and then continue to the next